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20130318
20130326
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, obviously three developing stories and we're going to cue you in on all of them right now. the fed, steve liesman is in washington. russia's financial overtures toward cyprus. steve is live in moscow and then there's cyprus and the impact there on the rest of europe and the globe. michelle caruso-cabrera has made the trek to that small island nation that is right now ground zero for europe's financial problems. michelle? >> reporter: hi there, tyler. the latest is the president says he's going to meet with parliament tomorrow morning. there's still no plan here. in fact, you heard about plan a which was to tax deposits. now we have heard that plan b has been rejected by the troika as well. cyprus government said to the troika, their european partners who they want them to lend money to, they said to them, listen, instead of taxing deposits why don't we do this instead. we have a pension fund, we'll raid it, take the cash, turn it into bond and we'll pay it back over time. the troika said that doesn't do anything for you. you still have liabilities. then they said we're also going it try t
" word, recession. steve liesman has more details on that. hi, steve. >> thanks very much, sue. we're here with the growth forecast from our 54 respondents. first i'll show you what the gdp -- i guess we're going to do the recession here first. you can see back in september 2011, when we're dealing with debt ceiling, the probability of recession by this group, 36%, fell to a low of 19% around the winter of 2012. remember when everything was being looking good, it dipped down again. the probability of recession went up again. now it's fallen again for the second straight month. 2011, 17.6%. not quite off the charts because we still have room here but it's the lowest that we've seen since we began asking this question. i don't know if we have the growth forecast chart here, guys, if we can go back to that. here are the actuals. year over year gdp, 2.6, 1.8, lackluster and picking up to a lackluster not great 2.6%. i want to share with you some views of the economy from our 54 respo respondents. firming housing prices are a game changer. there is something much more self-feeding about
signs and perhaps some comments on what's going on in europe, too. steve describes what is on top of the agenda today. clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their live webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade... ranked "highest in customer loyalty for brokerage and investment companies." ♪ your finances can't manage themselves, but that doesn't mean they won't try. bring all your finances together with the help of the one person who can, a certified financial planner professional. cfp -- let's make a plan. >> fed chairman ben bernanke will be speaking later. >> have we really learned our lessons from the crisis? joining us now to talk about that more, steve leisman. >> it is argued that the world is not really in the middle of a currency war. and he distinguished betwee
there a little bit about cyprus. does it matter, do we care or not? will we get a deal? checking it out. steve sedgwick in moscow earlier today. russia's been a big player in this drama but our international correspondent, chief international correspondent michelle caruso-cabrera is in cyprus for us now. michelle? >> reporter: tyler, the situation in cyprus is incredibly unclear and increasingly chaotic. the parliament of this country was supposed to vote ten hours ago to pass a law that would allow them to restructure the banks. we're still waiting. it's unclear if they are going to vote today at all. at the same time we're getting reports that maybe the european union is going to demand even more from this country. hours ago we were told by the leader -- the head of the leading party that they were extremely close to a deal and yet we still wait. the same time it's growing increasingly chaotic in this country's economy because the banks are still closed. they have been closed for seven days now. it looks like they will be closed for at least ten days. that means people running businesses can
in cyprus. a place where a lot of powerful russians have an awful lot of money. steve sedgwick is live in moscow reporting on possible russian solutions for us. good evening, steve. >> reporter: yeah, a very good evening to you. well, look, i've just been to a meeting this morning between the european commission president, barroso, and the prime minister of russia, mr. medvedev. and despite the very fine words on the surface, it is very clear the russians are very upset with the europeans. as you mentioned, sue, a huge amount of interest the russians have down in cyprus as well. and they're really upset they weren't included in the negotiations for some form of bailout package initially. they've said the europeans have behaved like a bully in a china shop. they've also said they've done everything wrong. and this is the best one i thought. they're accusing them of absolutely misappropriating assets akin to something that happened in the soviet era. this is the russians telling the europeans they're doing something completely wrong on property rights. quite extraordinary. the russians h
of the world. steve liesman on his way soon to westchester county. robert, who knows where he's going. what it might mean for russia's rich. >> nondisclosed location. >> tyler, i'm looking at the markets and the commentary coming in to my e-mail. i think knee-jerk contagion is now becoming contagion as some investors doubt that what's going on in cyprus is really raising concerns about the positive insurance worldwide. citi group in a report that just came out, contagion risks are over rated in our view. the risk of bank runs in other euro area countries has clearly risen but the unique features of the cypriot situation should limit the read through to other cases in the euro area. in case you didn't know this, issuing a strong statement the reassure american depositors. while the situation in cyprus is a real concern for the depositors in cypriot's banks, depositors in the u.s. banks are insured. the cyprus debacle is the sort of thing that has kept the fed on age and as gresive stance on monetary policy. fed would increase by 85 billion in additional mortgages because it's already on edge
Search Results 0 to 5 of about 6